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00:00We mentioned the massive loss in profits there, but how has this affected consumer confidence in the brand, Marks & Spencers?
00:09Yes, thanks for having me. Understandably, when consumers are involved, it's their personal data, their card details, which have been reassured were not in any case leaked here.
00:19But of course, that's front of mind. Consumers want to be able to trust brands.
00:23That's a huge part of the way we shop and this evolvement of what we're seeing in consumer shopping. Multi-channel, speed is everything.
00:31So when it's a beloved brand, which Marks & Spencers is all around the world, but particularly in its home UK, this is so integral.
00:39And we shop emotionally. You know, logic and tech sit together.
00:43But our choices, our brand preferences often come from that emotional point.
00:47I think it's really important to explain that the brand itself, although it's over 150 years old, had been through a journey recently.
00:54It had rebuilt back. So it's seen its best financial health in three decades.
00:59And this blight of millions of pounds, an estimated 83 millions of pounds, has come in just a matter of weeks.
01:07And that just goes to show the fragility, really, of brands and how important it is to understand that this is certainly going to be a way of life for many tech brands going forward.
01:17I think it's really important to understand that this is certainly going to be a way of life for many tech brands, but it's also going to be a way of life for many tech brands, but it's also going to be a way of life for many tech brands.